GameStop Stock Swings After Reddits Insane Campaign and People are Lashing out in Anger


Angelina Moschella, Writer

The stocks in GameStop have been rapidly rising due to Reddits’ campaign against Wall Street’s bets against the company.

On January 11, 2021, GameStop stocks started to rapidly rise throughout the next three weeks. For the past eight months, stocks have skyrocketed over 8,000 percent. Many platforms have been the main reason why these stocks have been increasing so much. Reddit and Robinhood users have all created an alliance together to raise the stocks higher than ever, and end the bets in GameStop failing as a company.

While most people on the internet are happy with GameStops’ company being saved and helping with the movement, others are not so glad. They thought this would all end in a good joke, but it climaxed into a bigger problem. “It certainly started as a meme. That’s how WallStreetBets operates,” said an anonymous redditor on the situation. Many people were in on this “meme” for a good laugh and a joke or two. But some had taken it to a next level, and as the days passed, stocks rose rapidly. Many people were outraged in the decisions of these Reddit followers and spoke on their own views. 

“Starting tomorrow, we plan to allow limited buys of these securities. We’ll continue to monitor the situation and make adjustments as needed,” said the co-founder of the website Robinhood. He spoke out about the actions of the people who are raising the stocks. There will be complete moderation over the situation from now on, so the situation does not happen again.

What also did not help this situation was other big platforms spreading the subreddit around and raising awareness even more. “Gamestonk!!” with a link to r/WallStreetBets on Tuesday night and promptly sent the stock up more than 100% in after-hours trading,” Elon Musk tweeted. His tweet a week ago made stocks grow even more. Musk is a very big market mover today, and with one single tweet he could change the game for everyone. And that is exactly what he did.

From GameStops companies failing little by little, to stocks rising in a desperate need to save them, it has been a long journey. Tweets back and forth in arguments and agreements are not helping either. And with big platforms spreading these Reddit pages all over, it will eventually crash all together and GameStop will be in defeat. There is no telling what will happen in these next few weeks, but hopefully for all the situation will die down and go back to normal.